Quarterly report [Sections 13 or 15(d)]

Construction Contract and Other Service Revenues (Tables)

v3.26.3
Construction Contract and Other Service Revenues (Tables)
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Construction Contract and Other Service Revenues by Compensation Arrangement
We disaggregate in the table below our construction contract and other service revenues by compensation arrangement as we believe it best depicts the nature, timing, and uncertainty of our revenue (in thousands):
For the Three Months Ended September 30, For the Nine Months Ended September 30,
2026 2025 2026 2025
Construction contract revenue
Cost-plus fee $ 9,736  $ 1,323  $ 13,684  $ 4,230 
Firm fixed price 1,816  3,525  5,821  15,338 
Guaranteed maximum price 1,595  3,310  5,817  10,764 
Other 277  327  909  870 
$ 13,424  $ 8,485  $ 26,231  $ 31,202 
Schedule of Accounts Receivable, Contract Assets and Contract Liabilities The beginning and ending balances of accounts receivable related to our construction contracts were as follows (in thousands):
For the Nine Months Ended September 30,
2026 2025
Beginning balance $ 4,036  $ 8,828 
Ending balance $ 4,982  $ 2,308 
The beginning and ending balances of our contract assets were as follows (in thousands):
For the Nine Months Ended September 30,
2026 2025
Beginning balance $ 17,925  $ 17,050 
Ending balance $ 14,462  $ 14,795 
Changes in contract liabilities were as follows (in thousands):
For the Nine Months Ended September 30,
2026 2025
Beginning balance $ 2,183  $ 2,016 
Ending balance $ 1,855  $ 2,210 
Portion of beginning balance recognized in revenue during:
Three months ended September 30,
 $ 66  $ 16 
Nine months ended September 30,
 $ 611  $ 201